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BUSINESS SECTOR: The basic macroeconomic sector containing the private, profit-seeking firms in the economy that combine scarce resources into the production of wants-and-needs satisfying goods and services. The key economic function of the business sector is the production of goods and services. The three basic types of business organizations that comprise the business sector are proprietorship, partnership, and corporation. This is one of the four macroeconomic sectors. The other three are household sector, government sector, and foreign sector. You might want to check out the key role that the business sector plays in the circular flow.
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Lesson 11: Elasticity Basics | Unit 1: The Concept
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- The notion of stretchability is extremely important for the analysis of the market.
- The quantities of a good demanded and supplied are stretchable, with price being the instigating force.
- A better understanding of this stretchability concept might be useful.
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MACROECONOMIC GOALS Three conditions of the mixed economy that are most important for macroeconomics, including full employment, stability, and economic growth, that are generally desired by society and pursued by governments through economic policies.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a green and yellow striped sweater vest or a Boston Red Sox baseball cap. Be on the lookout for the last item on a shelf.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Intense concentration hour after hour can bring out resources in people they didn't know they had. " -- Edwin Land, inventor, entrepreneur
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IADB
Inter-American Development Bank
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